(a)When an applicant for a license issued under Texas Occupations Code, Chapter 1102 (Chapter 1102), has met all other licensing requirements, the commission shall notify the applicant that the applicant must provide proof of financial responsibility as required by §1102.1141 of Chapter 1102 (Financial Responsibility) [professional liability insurance, or any other insurance that provides coverage for violations of Subchapter G of Texas Occupations Code, Chapter 1102,] before the license will be issued. (b)An inspector must maintain financial responsibility [professional liability insurance coverage, or any other insurance that provides coverage for violations of Subchapter G of Chapter 1102,] during the period the license is active. (c)The applicant must provide proof of financial responsibility using a form approved by the commission for that purpose [ insurance using a Certificate of Insurance form approved by the commission ] and signed by the applicant's insurance agent or authorized surety representative, or any other proof of financial responsibility [insurance] acceptable to the commission. (d)An inspector must notify the commission within 10 days of the cancellation or non-renewal of financial responsibility [professional liability insurance coverage, or any other insurance that provides coverage for violations of Subchapter G of Chapter 1102]. (e)An inspector must retain sufficient records of financial responsibility [professional liability insurance coverage, or any other insurance that provides coverage for violations of Subchapter G of Chapter 1102], to document to the commission continuous coverage for the preceding two year license period. (f)The requirement that an inspector carry financial responsibility [professional liability insurance or any other insurance that provides coverage for violations of Subchapter G of Chapter 1102] does not require coverage for violations wherein providing such insurance coverage would be as against public policy.
This agency hereby certifies that the emergency adoption
has been reviewed by legal counsel and found to be within the agency's
legal authority to adopt.
Filed with the Office
of the Secretary of State on August 15, 2013
TRD-201303407 Loretta DeHay
General Counsel
Texas Real Estate Commission
Effective date: September 1, 2013
Expiration date: December 29, 2013
For further information, please call: (512) 936-3092
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